What would you do ?

[William Gonzalez]

Hi guys, this is my situation, I live in NYC, where is imposible to get a home in a livable place with less than $300,000. You can get one property in a less desirable area for about $200,000 in places where you and me wouldn't like to live. I have an income of about $40,000 dollars a year. I am interested in cash flow, rents here are around $1100-$1600 a month, i have found some properties that when you do the math it looks they cashflow but to tell you the truth i'm scared about the high prices. Your advice is highly appreciated.

[Brandon Turner]

Hey William,

I'm also freaked out by those high prices - so I kinda avoid them! In my opinion, there are cheap areas that are still nice within driving distance of every major city. Check out today's Podcast with Arthur Garcia - who lives in LA but still has a place within a couple hours drive that he can buy for under $100,000. I'd try to find those places.

Either that, or wholesale?